Yahoo Q2 Earnings Rise While Revenue Disappoints

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Yahoo reported earnings per share of $0.35 for its second quarter, increasing its figure from a year ago and besting analyst expectations. Its revenue performed the opposite trick, falling from a year ago and coming in just below what the street forecast.

The company's stock is down two percent in after hours trading, though it remains far ahead of where it sat before Marissa Mayer took over as CEO. The stock is up more than 70 percent year over year.

"I'm encouraged by Yahoo!'s performance in the second quarter. Our business saw continued stability, and we launched more products than ever before, introducing a significant new product almost every week," Mayer said in a statement. "From the new Yahoo! News, the new Yahoo! Sports app, the redesigned Yahoo! search, the new Flickr, the new Yahoo! Mail for tablet, the Yahoo! Weather app, our newYahoo! app with Summly – this quarter drove tremendous improvements in our product line and our users responded with increased usage and engagement."

Mayer has aggressively remade the company ever since she took over last summer, acquiring nine companies, including Tumblr, in the second quarter alone. The company also reimagined the designs of several of its most popular products, including news, sports and Flickr.

Though Mayer joined Yahoo from fellow tech company Google, she has accelerated its forays into entertainment, acquiring the rights to the "Saturday Night Live" archive and forging partnerships with the likes of Conde Nast Entertainment.